FED SPECIAL AGENT arrested for REAL ESTATE FRAUD

A special agent with the Drug Enforcement Administration (DEA) has been arrested for serial con artistry on charges that include posing as an active FBI agent, working with another man posing as a federal prosecutor, and defrauding a man who hired the con team to help him recover money in fraudulent real estate investments. David Herrera was arrested by actual FBI agents at Los Angeles International Airport last week. He will be arraigned on nine counts, including wire fraud, conspiring to commit wire fraud, and making false statements in a passport application. His co-defendant, Jerome Whittington, has already been indicted. Both men are seniors; Herrera is 70 and Whittington is 65[1].

According to court documents, the team did not limit themselves to real estate fraud but would allegedly leap at whatever opportunity arose for them. One of their “deals,” according to the victim, involved using their fake federal statuses to help convince a victim to invest in a real estate deal that did not exist. Another victim claimed to have paid the team nearly $9,000 to help with a spouse’s immigration case, and a third paid hundreds of thousands of dollars in fake “bond money” to help recover alleged assets from two unrelated companies. Whittington also has already been indicted for conning two other victims out of about $165,000 in fake real estate investments.

If they are convicted, both men face serious prison time that could see them behind bars for the rest of their lives. In the event of the most severe sentence, each man could face up to 170 years in prison[2]. Do you think that is too severe?

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[1] http://mortgagefraudblog.com/serial-con-man-arrested-for-real-estate-and-other-fraud-schemes/#more-22047

[2] http://losangeles.cbslocal.com/2015/06/12/former-dea-agent-indicted-on-federal-fraud-charges/

About the Author (Author Profile)

Carole Ellis is editor in chief of the Bryan Ellis Investing Letter. Under Carole’s leadership, the Bryan Ellis Investing Letter has grown to over 700,000 subscribers, making it one of the largest real estate newsletters in the world. Each day, Carole directly impacts the daily thinking and conversations of real estate investors worldwide by providing thought-provoking analysis and commentary on news topics relevant to serious real estate investors.

Carole has a strong background in research and in the management of respected publications. She holds a degree in English Literature from the University of Georgia, and has substantial research experience in plant biology. She is the former editor of and writer for the University of Georgia’s Research Magazine. She’s also the author of hundreds of articles and multiple books and home study courses published under the names of her clients, many of whom are well known, highly respected real estate entrepreneurs as well.

Carole makes her home in Kennesaw, Georgia with her husband Bryan and 4 children.

Comments (3)

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  1. I am especially tired of people defrauding us that are on our payroll. Where is the supervision here? If it is Congress, they better figure out a way to be effective. What is happening everywhere looks like a joke except it is not. No wonder we, the people, have no confidence in our government.

    In my opinion, for employees, contractors etc who supposedly SERVE the American citizens, the punishment has to be harsher than for the regular crook on the street. WHY? These delinquents are betraying the trust of the taxpayer they are supposed to serve. I compare that to a priest who goes astray.

  2. getmikey says:

    Too severe???

    Federal agents who commit fraud such as these two give regular conmen a bad name!(/sarc)

  3. wt says:

    That’s what they deserve for being GREEDY!

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Category: Real Estate